Mali’s transitional government intends to review mining conventions signed with companies by the previous administrations, interim President Bah N’daw has confirmed, following recommendations from the country’s auditor general.
Mali is one of Africa’s largest gold producers, and companies operating in the country include Barrick Gold Corp, AngloGold Ashanti – which operates mines in Morila (pictured) and Sadiola – and Resolute Mining.
“The conventions establishing mining companies include clauses which do not always guarantee the protection of the interests of the state,” Auditor General Samba Alhamdou Baby says, after handing his report to the interim president, according to a report by Reuters.
“In particular the non-distribution of dividends, the non-payment of certain taxes, to which is added the existence of unjustified loans, all of which deprive the State of financial resources.”
He adds that a review of the conventions would better protect the interests of the state while respecting incentives for mining companies.
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